Market Analysis on August 9, 2025

New high, Ethereum has risen to a maximum of 4200 USD, which is the second highest price since the peak of 4800 during the great bull market in 2021. Since the bear market low point fell below 900 USD in 2022, this is not the first time Ethereum has stood above 4000 USD, although previous attempts stopped just above 4000. Although this time doesn’t quite count as a valid breakthrough, we are still full of confidence. This time, Ethereum has gone through nearly a year of abuse, and V God has also been jokingly referred to as V Dog. As for the rumors in the market about completing a deep wash at the low point, while also making a big move to switch the main holding, I think it no longer matters, because now Ethereum is being favored by Wall Street funds, with clear buying signals.
In the past couple of days, I've heard the most exaggerated comment: Ethereum is an innovation of human civilization level! Although there is a bit of joking involved, the market's evaluation of Ethereum has made a 180-degree turn, from being that disappointing spoiled rich kid to once again becoming the hope of the crypto industry. If saying it is an innovation of human civilization level is a bit exaggerated, I think it is not an overstatement that the Ethereum chain still stands at the forefront of innovation in the crypto industry. If you are a seasoned player in DeFi, you should have noticed that Pendle has recently launched a fee market that allows for both long and short positions on funding rates. On-chain finance is gradually transitioning from the infrastructure era to the core area of development, including RWA, stablecoins, etc., which will continue to play out new tricks, and these will basically only happen first in DeFi protocols.
Yesterday, a fan asked me if Ethereum would break through first? My answer is not likely.